SBI in a statement said, “Revision in Interest Rates On Retail Domestic term deposits (Below Rs. 2 crore) interest rates revised w.e.f. 15.02.2023.
“Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees Two Crore ‘have been revised.The revised interest rates are as under :
| Tenors | Existing Rates for Public w.e.f. 13.12.2022 | Revised Rates For Public w.e.f. 15.02.2023 | Existing Rates for Senior Citizens w.e.f. 13.12.2022 | Revised Rates for Senior Citizens w.e.f. 15.02.2023 |
|---|---|---|---|---|
| 7 days to 45 days | 3.00 | 3.00 | 3.50 | 3.50 |
| 46 days to 179 days | 4.50 | 4.50 | 5.00 | 5.00 |
| 180 days to 210 days | 5.25 | 5.25 | 5.75 | 5.75 |
| 211 days to less than 1 year | 5.75 | 5.75 | 6.25 | 6.25 |
| 1 year to less than 2 year | 6.75 | 6.80 | 7.25 | 7.30 |
| 2 years to less than 3 years | 6.75 | 7.00 | 7.25 | 7.50 |
| 3 years to less than 5 years | 6.25 | 6.50 | 6.75 | 7.00 |
| 5 years and up to 10 years | 6.25 | 6.50 | 7.25 | 7.50 |
Bank has also introduced specific tenor scheme of “400 days” at Rate of Interest of 7.10% w.e.f 15-Feb-2023. The said Scheme wil be valid till 31-Mar-2023
A special ‘SBI Wecare’ Deposit for Senior Citizens in the Retail TD segment wherein an additional premium of 50 bps over & above the existing 50 bps i.e. 100 bps over card rate for public (as indicated in the above table) will be paid to Senior Citizens on their retail TD for ‘5 Years and above’ tenor only. ‘SBI Wecare’ deposit scheme stands extended up to 31st March 2023.
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